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Deductions & credits
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If you have paid taxes to both foreign and the US tax authorities, the IRS allows you to claim a foreign tax credit on your US tax return. To claim this foreign tax credit, you would need to file a Form 1116 Foreign Tax Credit. The amount will show on Schedule 3 line 1 and line 20 on Form 1040.
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March 15, 2021
7:21 PM
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